RIO DE JANEIRO (AFX) - State-owned Petrobras said it is poised to sign an accord with Japanese group Mitsui and Co Ltd to study the viability of a potential export market for ethanol.
The two companies plan to look for ways to boost the production and global potential of the clean fuel, in an accord that Petrobras said will be formally signed on Monday.
Brazil produces some 35 pct of the world's ethanol and is its biggest exporter. Ethanol is a cleaner-burning fuel than gasoline and helps reduce carbon dioxide emissions blamed for global warming.
The agreement will aim to match Petrobras's production expertise with Mitsui's marketing abilities. newsdesk@afxnews.com afp/hjp COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited